We all used mPOS machine in grocery shop and malls for payment. But we never think how this mPOS machine works? How our payment settled? Without wasting time I come to the point afterall how this works. As we know mPOS machine is the combination of software and hardware and its software part is integrated with seller’s bank account. The hardware part of mPOS machine consist a card reader chip. Now we come to the process.
At first merchant or seller swipe credit or debit card of buyer through this machine .
After confirming buyer input the pin code as password.
Then mPOS machine which works as a card reader and read bar code of credit or debit card .
Then this input data sends to central regulatory account.
Here process complete and you got the receipt of you payment, now you can get your goods and services.
After confirming all the input details form central regulatory, amount transfer to sellers account and receipt generate .